Bee, Virginia Property Taxes
The median property tax rate in BEE, VA is 0.60%, considerably lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in BEE at $51,700, the typical annual property tax bill is $310, which is significantly less than the national median of $2,690. Property taxes in BEE are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding BEE's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of BEE or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bee, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.6%
Estimate Property Tax Bill
$310
Ownwell’s BEE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in BEE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in BEE to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Bee, Virginia
Property taxes in BEE, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in BEE is 0.60%, which is lower than the U.S. national median of 0.99%. Local government entities within BEE set these rates annually, and they can vary significantly across different neighborhoods. Each year, BEE estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares BEE's effective property tax rate to other counties in Virginia and the national median. For comparison, the 24217 zip code has the highest median property tax rate of 0.60%, while the same zip code also has the lowest median tax rate of 0.60%. Understanding how these cities compare with BEE provides valuable insights into the varying tax landscape across Dickenson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bee Tax Rate
0.60%
Average Dickenson County Tax Rate
0.60%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bee, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24217 | 0.60% | 0.60% | 0.60% | 0.60% | 0.60% |
Source: Ownwell
Property Tax Assessment Values Across Bee, Virginia
In BEE, Virginia, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Dickenson County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In BEE, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in BEE helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in BEE is $310.00 in the 24217 zip code.
Average Bee Assessed Value
$51,700
Average Dickenson County Assessed Value
$51,100
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bee, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24217 | $14,200 | $31,500 | $51,700 | $91,950 | $125,700 |
Source: Ownwell
Property Tax Bills Across Bee, Virginia
In the city of BEE in Dickenson County, VA, property tax bills are calculated by applying the local tax rate to the assessed value of a property. The assessed value is determined by the county assessor and is typically a percentage of the property's market value. Homeowners in BEE can expect their tax bills to vary significantly, with the 25th percentile tax bill at $189 and the 75th percentile reaching $552. For those at the 90th percentile, the tax bill can go up to $754. This variation reflects differences in property values and specific assessments. Compared to the national median property tax rate of 0.99%, BEE's tax bills are relatively modest due to the lower median home price of $51,700. However, the impact on homeowners can still be significant, especially for those with properties assessed at higher values. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Bee Tax Bill
$310
Average Dickenson County Tax Bill
$312
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Bee, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24217 | $85 | $189 | $310 | $552 | $754 |
Source: Ownwell